Ripple is providing $150 million to LMAX Group to promote its RLUSD stablecoin in institutional trading. The partnership aims to expand LMAX’s cross-asset capabilities, enabling clients to use RLUSD across various trading products. This move reflects the growing trend of stablecoins for institutional market access. RLUSD’s market cap has surpassed $1.4 billion since its launch.

The collaboration between Ripple and LMAX is strategic, aiming to create a unified, regulated marketplace for FX and crypto. This partnership could simplify capital deployment for institutions, allowing them to consolidate collateral across platforms, streamlining operations and freeing up liquidity. RLUSD will be available through LMAX Custody and LMAX Kiosk for trading across FX and crypto using stablecoin collateral.

Read more at Yahoo Finance: Ripple injects $150 million into LMAX to push RLUSD stablecoin for institutions